Compliance Ireland Newsletter December 2016
Merry Christmas!
Dear All,

As 2016 comes to a close, we here at Compliance Ireland would like to wish you all a Merry Christmas and a Happy New Year.
Central Bank News
Central Bank issues Letter to Industry on Risk Function

On the 5th December 2016, the Central Bank of Ireland issued a letter to the Chairs of boards of Investment Firms, Fund Service Providers and Stockbrokers with respect to its findings in its themed review of the risk function in these sectors. The purpose of the review was to evaluate processes in place for the identification, measurement, mitigation and communication of risk having regard to existing risk frameworks and culture. The Central Bank noted that it found divergences in the approach to risk and is following up with individual firms where deficiencies were identified.

Click here for full article
Financial Crime
Compliance Ireland Seminar in conjunction with the Central Bank of Ireland

Compliance Ireland held a seminar on 2nd December 2016 in the Gibson Hotel on Anti-Money Laundering developments. The event included an address by the Head of Enforcement in the Central Bank of Ireland, Derville Rowland. Topics covered included ireland's National Risk Assessment, irish and international enforcement actions and the 4th EU AML Directive. We would like to thank Ms. Rowland, her collegaues and all 190 attendees for making it such a succesful event. In particular, the participation on all sides in engaging questions and answers sessions added value and depth to the topics discussed.

Click here for full article



Central Bank launches AML Bulletin

The Central Bank of Ireland published its first edition of its AML Bulletin on 6th December 2016. This is noted to be the first in a regular publication on AML issues arising based on Supervisory experience. This Issue deals with Reliance on Third Parties and sets out the expectation of the Central Bank in this specific context.

Click here for full article
Enforcement
Bray Credit Union sanctioned for AML Breaches

On 9th December 2016, the Central Bank of Ireland announced that Bray Credit Union had been fined €98,000 and reprimanded for breaches of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. The majority of breaches persisted for a period in excess of 5 years.

Click here for full article



Settlement Agreement with Springboard Mortgages
Follows redress scheme for Tracker Mortgage holders

On 29th November 2016, the Central Bank of Ireland announced that it had entered into a settlement agreement with Springboard Mortgages Limited trading as Springboard Mortgages. The Central Bank imposed a fine of €4,500,000 in respect of breaches of obligations to tracker mortgage customers and in particular breaches of the Consumer Protection Codes 2006 & 2012.

Click here for full article
Training
Training Schedule February - June 2017
FEBRUARY

14th Feb, Tues - Anti-Money Laundering Refresher Course, Brief
15th Feb, Wed - Credit Service Regulation, Half Day
16th Feb, Thurs - Capital Requirements Directive IV, Full Day
21st Feb, Tues - Implementing Fit & Proper in your Business, Brief
22nd Feb, Wed - Governance & Oversight of Outsourced Activities, Brief
23rd Feb, Thurs - Anti-Money Laundering/Counter Terrorist Financing, Full Day
28th Feb, Tues - Director Training - Anti Money Laundering/Counter Terrorist Financing, Brief

MARCH

1st Mar, Wed - Corporate Governance, Half Day
2nd Mar, Thurs - Irish Financial Services Regulation for New Entrants, Full Day
7th Mar, Tues - Complaints Handling & Treating Customers Fairly, Half Day
8th Mar, Wed - Whistleblowing, Brief
9th Mar, Thurs - Data Protection & How to Conduct a Data Protection Audit, Full Day
14th Mar, Tues - Consumer Protection Code 2012, Half Day
15th Mar, Wed - Ethics, Brief
16th Mar, Thurs - Risk-Based Compliance Monitoring for Financial Institutions, Full Day
21st Mar, Tues - Minimum Competency Code, Half Day
22nd Mar, Wed - Capital Requirements Directive III for Investment Firms, Full Day
23rd Mar, Thurs - SME Regulation, Brief
28th Mar, Tues - Central Bank Inspections & Enforcement, Half Day
29th Mar, Wed -PRISM, Lunchtime Brief
30th Mar, Thurs - Role of the Compliance Officer - for Insurance Firms, Full Day

APRIL

4th Apr, Tues - Introduction to Financial Services Regulation in Ireland, Half Day 
6th Apr, Thurs - Anti-Money Laundering/Counter Terrorist Financing, Full Day 
11th Apr, Tues - AML in Practice: Implementation of Current Legislation and Guidance, Brief
12th Apr, Wed - Corporate Governance, Half Day
13th Apr, Thurs - Understanding Solvency II, Full Day
20th Apr, Thurs - Role of the Compliance Officer - for Banks & Investment Firms, Full Day
25th Apr, Tues - Anti-Money Laundering Refresher Course, Brief
26th Apr, Wed - Consumer Protection Code - Advertising Requirements, Half Day
27th Apr, Thurs - Understanding MiFID, Full Day

MAY 

2nd May, Tues - Payment Services Directive, Brief
4th May, Thurs - Directors Duties & Corporate Governance, Full Day
9th May, Tues - Whistleblowing, Brief
10th May, Wed - Implementing UCITS V, Half Day
11th May, Thurs - Risk-Based Compliance Monitoring for Financial Institutions. Full Day
16th May, Tues - Consumer Protection Code 2012, Half Day
17th May, Wed - Code of Conduct and Mortgage Arrears, Brief
18th May, Thurs - Implementing the AIFM Directive, Half Day
23rd May, Tues - Introduction to Financial Services Regulation in Ireland, Half Day
24th May, Wed - Complaints Handling & Treating Customers Fairly, Half Day
25th May, Thurs - Understanding Funds in Ireland, Half Day
30th May, Tues - Companies Act, Half Day
31st May, Wed - Implementing Fit & Proper in your Business, Brief

JUNE 

13th June, Tues - Developments in MiFID II, Half Day
15th June, Thurs - Data Protection & How to Conduct a Data Protection Audit, Full Day
20th June, Tues - Central Bank Inspections & Enforcement, Half Day
22nd June, Thurs - Anti-Money Laundering/Counter Terrorist Financing, Full Day

How to Make a Booking

Click on the link to the course you want to book and ensure your place today by scrolling down and booking through PayPal.

Alternatively, you can make a booking by sending an email to bookings@complianceireland.com containing the following information:

  • your contact details
  • the name and date of the course that you would like to attend
  • the attendee(s) name(s)
  • the name of the person that the invoice should be addressed to
  • any reference/cost centre/purchase order number that you would like stated on the invoice

We will follow up your booking by sending out an invoice.

Have a Number of People That Need Training?

It may be more cost-effective and time-efficient to have your staff trained at your premises rather than sending them out to external courses. 
As well as our public training courses, Compliance Ireland regularly provides bespoke training to firms around the country.  The benefits of bespoke training include:

  • we can tailor content to your company/industry requirements
  • we can tailor content to focus on specific topics within a subject area
  • we can help you ensure that you comply with mandatory/regulatory staff training requirements
  • reduce costs by running course from your offices or for smaller groups from our offices
  • reduce costs by printing off course content

For more information contact Aisling at: aisling@complianceireland.com

Terms & Conditions:

Our Terms and Conditions and Cancellation Policy (‘Terms’) are located here.  Please read the Terms before making your booking.  A link to the Terms appears on each webpage advertising a course/Event.  Please note that Compliance Ireland reserves the right to alter the content and/or cancel scheduled courses/Events.  Where Compliance Ireland cancels a course/Event a full refund will be made.  All bookings must be paid for in advance unless agreed otherwise. Please also see our Privacy Policy/Statement by clicking here.

19 December 2016
In This Issue
Central Bank News
Central Bank issues Letter to Industry on Risk Function
Financial Crime
Compliance Ireland Seminar in conjunction with the Central Bank of Ireland
Central Bank launches AML Bulletin
Enforcement
Bray Credit Union sanctioned for AML Breaches
Settlement Agreement with Springboard Mortgages
Training
Training Schedule February - June 2017
Useful Links
Compliance Ireland
Compliance Ireland
Lower Ground Floor
13 Adelaide Road
Dublin 2

T: +353 1 425 5962
E: email@complianceireland.com
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